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The rice industry is global – Guyana stands to benefit

Mar 15, 2009 Letters

Dear Editor,

I wish to bring to the attention of the public some current statistics on global rice production and how the effects will simmer down to Guyana and our farmers here.

As we are aware, whether it is through the media or from millers, the price of paddy will reduce for the upcoming crop; this will have some effects on our export revenue.

After thorough research and investigation, it was found that the global rice production for 2008-2009 is projected at a record of 439.7 million tons (on a milled basis), 2 percent above 2007/08 production.

This year the global rice production is due to expand rice area, estimated at a record 155.8 million hectares. The average yield of 4.2 tons per hectare – the highest on record – is virtually unchanged from last year. Global consumption is projected at a record 434.1 million tons.

In the case of Guyana, the production for 2009 is estimated to be less than that of 2008. This is mainly due to the large acreage affected by the 2008/09 floods.

The prices last year were relatively high and this was due to the global shortage but if we were to look at the statistics above, we will clearly see that the production has increased causing the supply to be higher than the demand, hence, a reduction of price.

Recently, I have been following the news and heard the Minister of Agriculture speaking of interventions being made by the Government in relation to the reduced prices farmers will have to face. One of the interventions is the reduction of export tariff (Rice Development Fund) by 60%; this is a very good decision. I hope that this reduction will pass from the millers to the farmers so that they can be the direct beneficiaries.

I hope that rice farmers will continue their efforts to increase production because we are dealing with a fluctuating market and you never know when you can benefit from these markets.

Erica Smith

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